Installed Building Products, Inc. (NYSE:IBP) Shares Acquired by Ascent Group LLC

Ascent Group LLC grew its stake in Installed Building Products, Inc. (NYSE:IBP) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,816 shares of the construction company’s stock after buying an additional 1,754 shares during the period. Ascent Group LLC’s holdings in Installed Building Products were worth $3,664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IBP. Vanguard Group Inc. raised its stake in Installed Building Products by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after acquiring an additional 18,890 shares during the last quarter. Swedbank AB boosted its position in Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after buying an additional 43,000 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Installed Building Products by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock worth $46,572,000 after buying an additional 4,943 shares during the period. Price T Rowe Associates Inc. MD raised its position in Installed Building Products by 1,328.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after buying an additional 183,696 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after acquiring an additional 114,259 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBP has been the subject of several recent research reports. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. The Goldman Sachs Group lifted their price objective on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Evercore ISI raised their target price on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Truist Financial lifted their price target on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $255.20.

Installed Building Products Trading Up 2.2 %

Shares of NYSE:IBP opened at $250.40 on Friday. The business’s 50 day moving average price is $227.39 and its 200-day moving average price is $227.48. Installed Building Products, Inc. has a 1 year low of $106.01 and a 1 year high of $281.04. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 28.33 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.13. The business had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. On average, equities research analysts forecast that Installed Building Products, Inc. will post 11.06 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 annualized dividend and a yield of 0.56%. Installed Building Products’s dividend payout ratio (DPR) is currently 15.84%.

Installed Building Products Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.